US Pig iron Imports Hit 10-Month High in May

United States (US), the world’s one of the major consumer of pig iron, imported around 632,633 MT pig iron in May’18, which was 10-month High as the close higher figure were last seen during Jul'17 at about 713,000 MT, as per custom data maintained by SteelMint.

The nation’s Pig iron imports jump up by 59.90% M-o-M in May’18 over increased demand as against 395,636 MT in Apr’18. In line on yearly basis imports rise by 56.55% against 404,085 MT in May'17

During May'18 major imports was reported from Russia approximately 55% (350,728 MT), Ukraine (271,885 MT) and rest quantities being imported from South Africa, Canada & Denmark.

The key attributes shows pig iron imports incline with increased domestic demand amid fall in global prices. In May’18, SteelMint’s average price assessment for US pig iron imports was USD 382.50/MT FoB Black Sea, down from USD 387.50/MT FoB Black Sea in April’18.

Coming to total imports in CY18 (Jan-May'18), the nation has imported about 2,360,722 MnT Pig Iron; surge by 19.05% as compared to 1,982,820 MT in the same preceding last year. Russia, Ukraine & Brazil was the major Pig Iron exporter to United States which exported about 1,222,477 MT (51.78%), 757,252 MT (32.08%) & 264,552 MT (11.21%), respectively.

As per the SteelMint analysis, in the month of May'18 , the crude steel production of United States was around 7,107,000 MT, surge by 2.55% M-o-M against 6,930,000 MT in Apr’18 and in CY18(Jan-May) it was approximately 34,566,000 MT, surge by 1.81% against 33,951,000 MT in CY17 (Jan-May)

Presently, the export offers of basic grade Pig Iron are assessed at USD 380-390/MT FoB Black Sea & USD 380-385/MT FoB Brazil.